REGISTERED COMPANY NUMBER: 01856580 (England and Wales) REGISTERED CHARITY NUMBER: 515903
THEATR NA N'OG
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Carr, Jenkins & Hood
Oystermouth House
Charter Court, Phoenix Way
Swansea Enterprise Park
Swansea
SA7 9FS
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
THEATR NA N'OG
----- Start of picture text -----
Page
Report of the trustees 1 to 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9 to 10
Cash flow statement 11
Notes to the cash flow statement 12
Notes to the financial statements 13 to 25
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THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2022.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
The report of the trustees also incorporates a directors' report as required by company law.
Objectives and activities
The objectsof the charityare to producetheatreproductionsfor youngpeople.The charitywill also tour productions
regionally, nationally and internationally to broaden its audience base.
Thetrusteesofthecharityarecommittedtoprovidingapublicbenefit,andhavetakenintoaccountthe Charity
Commission's guidance in this area.
Thecharitybelievesthatchildrenandyoungpeopledeservetoexperiencetheatreof thesamehighartistic standard
and aestheticvalue as theatreaimed at adults,by creatinghigh qualitytheatrethat is powerful,inspiringand relevant
to all ages, bringing to life authentic stories of ordinary people who achieve extraordinary things.
Forthemanymembersofouraudienceswhocomefromdeprivedcommunities,TheatrnanÓg'sethoshas always
beentoinspireandencourageambitionandaspiration,tobelieveinoneselfanddaretodream.Thisiswhat makes
our work so effective at igniting young imaginations and appealing to people from all backgrounds.
Throughourexpertiseinworkingwithbothschoolsandtheatrevenues,we havedevelopeda unique understanding
of how to bridge the gap between the generations, in order to achieve a truly shared experience.
Duringthe previousyear the charitysaw a changeof remit from the Arts Councilof Wales,whichmeantthatits main
objectivescontinuedto be the promotionof theatre for young people in our three authoritiesbut with an intention to
tour productionsto a variety of age groupsand beyondour traditionalarea. Four key areas were identifiedfor specific
attention:
-
to raise the charity's profile locally and nationally;
-
to increase production and performance weeks;
-
to promote our touring productions in Wales and the UK; and
-
to allocate a percentage of funds for research and development on future productions.
1
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Achievement and performance
Charitable activities
ItcannotbeunderestimatedtheeffecttheCOVID-19pandemichashadontheorganisation,asitsaw restrictions
easingtheorganisationpreparedtoreturntoliveproductions.However,duetotheuncertaintyofthevirus the
charity has adopted a hybrid working policy.
The priorities have remained the same as the organisation adapts to a new way of working.
-
Support teachers & young people by creating projects and content that could be delivered online whilst young people were at home
-
Support the network of freelance professionals. Theatr na nÓg aims to support freelance artists and venues in Wales, as they navigate their way through th ese uncertain times, by creating projects that would support them financially and creatively.
-
Support the venues in Wales by creating content for them to deliver online to maintain their audiences.
We Need Bees/ Gwarchod y Gwenyn Podcast & Test Event
Theorganisationadaptedtheir2011stageplayforyoungaudiencesandfamiliestoapodcastforschoolsin Spring
2021.Schoolsparticipatedbylisteningtotheseriesandthentakingpartin5dailychallengesdevisedby Dawn
Thomas, an environment educationalist working with schools.
ThecompanyalsotookpartinatesteventforWelshGovernment.Thiswastogaugethebehaviourofaudiences at
live theatre events as the country eased out of lockdown.
Y Naid/ Just Jump
Onceagaintheorganisationpresentedtheirawardwinningproductiontoschools.Thistimethecompany adapted
theirstage play intoa shortfilm. It was a continuationof the partnershipwith CardiffHarbourAuthorityand Arts and
BusinessCymru.Thecompanyalsoorganisedworkshopswithschoolstodiscussthethemesofthestorywith young
people.
Erasmus+ - Unpacking Feelings
Theatrna nÓg were successfulin applyingto collaboratewithtwo WelshMediumschoolsin Swanseaandpartners in
Malta,CyprusandSpainonatwoyearproject.Theaimoftheprojectistocreateresourcesthatusearange of
creativeartsmediatoengagepupilstoexpresstheirfeelingsintheirsecondlanguageaspartoftheirrecovery from
the negative impact of COVID-19.
Shirley Valentine
AsthefirstcollaborationwiththeConsortiwmCymraegtheorganisationproducedtheWelshlanguageversion of
WillyRussell'ssuccessfulcomedyShirleyValentine,transportingherfromLiverpoolinthe80'stoMerthyr Tydfil
duringthe90's.TheproductiontouredvenuesthroughoutWalesintheSpringof2022.Itsawatotalaudience of
2,300 and increased its forecasted income by 50% with sell-out performances in many of the Welsh venues.
The Arandora Star
Thecompany'sannualschoolproductionattheDylanThomasTheatreinSwanseawaspresentedintheSpring. This
allowedforschoolstohavetheconfidenceandcertaintyinvisitingthetheatreandthemuseumsinvolvedin the
project.
2
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Other
The organisation performed to 7,500 in this financial year.
Theorganisationhashadasuccessfulyearinitsfundraisingactivities.Grantswereawardedof£37,871 (2021;
£53,000) together with donations totalling £957 (2021; £7,689) received from the public.
Financial review
Financial position
Thecharitycontinuestoreviewitsincomebaseandcostbase,withaviewtoconservingresources.During this
financial period, resources have increased in line with budgetary forecasts. Reserves remain at a satisfactory level.
Totalincomingresourcesfortheyearamountedto£505,083(2021;£444,450).Resourcesexpendedamount to
£498,321 (2021; £444,523). The net surplus for the year is £6,762 (2021; deficit of £73).
The net reserves at the balance sheet date are £473,597 (2021; £466,908) of general funds.
Principal funding sources
The charity has maintained its annual revenue funding from the Arts Council of Wales.
Reserves policy
Thetrusteesarepleasedtoreportthatthegeneralreservesremainpositiveattheendofthisfinancialyearand the
charitywillbecontinuingthisplatforminthenextfinancialyeartomaintainthestrengthofitsreserves.The charity
hassetminimumlevelsofreservesthatitwishestomaintaininordertosee outitsshorttermcommitments. These
have been set at £125,000whichshouldensurethe charitycontinuesfor twelve monthsin the event of the loss of all
incoming resources.
Investment policy
Thetrusteesconsiderthemostappropriatepolicyforinvestingsurplusfundsisinshorttermdepositaccounts to
maintain cashflow liquidity.
3
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Future plans
Erasmus+ - Unpacking Feelings
TheorganisationwillcontinueitsinternationalcollaborationbetweentwoWelshMediumschoolsinSwansea and
partnersinMalta,CyprusandSpain.Theaimoftheprojectistocreateresourcesthatusearangeofcreative arts
mediatoengagepupilstoexpresstheirfeelingsintheirsecondlanguageaspartoftheirrecoveryfromthe negative
impact of COVID-19.
Operation Julie
A co-productionwithAberystwythArts Centre,whichtells the storyof the famouspoliceoperationthattookplace in
WestWalesin1975-1977whichmanagedtoundercover,atthetime,theworld'slargestLSDmanufacturer. This
original play with a 70's prog-rock soundtrack will tell the incredible story of Operation Julie.
The production will be performed at Aberystwyth Arts Centre, Theatr Brycheiniog and The Lyric, Carmarthen.
The Trial of Elgan Jones
Thecompany'sannualschoolproductionattheDylanThomasTheatreinSwanseawillbepresentedinits usual
season,theAutumn.The projectwillhaveanadditionalweek at BreconMuseumas partof a pilotprojectto expand
the organisation's audiences and its partners with Theatr Brycheiniog and Brecon Museum.
Wallace 200
Aspartofthecharity'spartnershipwiththeBritishCouncil,thecompanywillpresentaperformanceofWallace as
part of the 200th birthday anniversary in collaboration with Indonesian artists.
Structure, governance and management Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.
Charity constitution
Theatrna nÓg is a companylimitedby guaranteeanda registeredcharity.It was establishedin 1984to promote and
advanceartisticeducationandthepublicappreciationofthearts.Theseobjectsaresetoutinits governing
instrument which is its Memorandum and Articles of Association.
Recruitment and appointment of new trustees
UnderthetermsoftheArticlesofAssociation,thereisnomaximumtothenumberofboardmembersbut there
shouldbeaminimumoffour.Allmemberswillserveaninitialtermofthreeyears.Atanannualgeneral meeting
retiring members can be re-elected for a second term of three years.
Organisational structure
Thegoverningbodyistheboardoftrusteeswhosemembersarenon-executiveandunpaid.Theboard meets
bi-monthlyandcoversareassuchasartisticdevelopment,diversity,membershipandfinance.Anartisticdirector is
appointedbythetrusteestomanagethedaytodayoperationsofthecharity.Tofacilitateeffectiveoperations, the
artisticdirectorhas delegatedauthority,withinterms of delegationapprovedby the trustees,for operational matters
including finance, employment and artistic performance related activity.
4
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Structure, governance and management
Induction and training of new trustees
All trusteeswere offeredand attendedan inductionand orientationday to brief them on their legal obligations under
charityandcompanylaw,thecontentoftheMemorandumandArticlesofAssociation,thecommitteeand decision
makingprocesses,the businessplanand recent financialperformanceof the charity.Trusteeswill also be encouraged
to attend appropriate external training events where these will facilitate the undertaking of their role.
Related parties
ThecharityhaskeyrelationshipswiththeArtsCouncilofWalesandagreesspecificannualtargetsandobjectives. In
previous years the company has been funded by the local authorities but this funding ceased 2014.
Partnerships
TheatrnanÓgcontinuestocollaboratewithawiderangeofpartnersandfosterspositiveand meaningful
relationshipsforthefuture.Thispromotesandpresentsanexcitingcollectionofproductionscateringfor the
surrounding community and beyond.
This year the company has developed close working relationships with:
Swansea Grand Theatre, The Welfare Ystradgynlais,Awen Trust, AneurinLeisure Trust, AberystwythArts Centre, Dylan
ThomasTheatre,TheatrSoar,SwanseaMuseum,NationalWaterfrontMuseumandtheNationalMuseum Wales,
Swansea University and Technocamps.
TheatrnanÓghasanexcellentrelationshipwithlocalschools.Itsambitionistodeveloprelationshipswith schools
nationwide to replicate the very successful model in Swansea, Neath Port Talbot and Bridgend.
Risk management
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controlsare in placeto providereasonableassuranceagainstfraudanderror.The trusteesriskmanagement strategy
comprises:
an annual review of the risks the charity may face;
· the establishment of systems and procedures to mitigate those risks identified in the plan; and
· the implementation of procedures designed to minimise any potential impact on the charity should those risks
materialise.
Thisworkhasidentifiednewrisksandhasresultedinbetteremergencyproceduresandcontingencyplansand has
giventheimpetusforbetterplanning.Akeyelementinthemanagementoffinancialriskisthesettingofa reserves
policy and its regular review by trustees.
Reference and administrative details
Registered Company number
01856580 (England and Wales)
Registered Charity number
515903
5
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2022
Reglstered office
Unit 3
Milland Road Industrial Estate
Neath
SAII INJ
Trustees
G J Cripps
E Heyes Ireslgned 6n/20211
A C Jones
L J Swlndell
D C Webster
J R Williams
C P Fitzgerald
K Lewis
K E Fisher (appointed 6ni20211
Company Secretary
G H styles
Indèpendent ExamSner
Stuart Harries FCA ACCA
Independent Examiner
Carr. Jenkins & Hood
Oys'ierr.-
.'th House
Charter Court, Phoenix Way
Swansea Enterprise Park
Swansea
SA7 9FS
Bankers
HS8C Bank plc
3 Windsor Road
Neath
SAII ILN
This report has been prepared in accordance with the special provisions of Part IS of the Companies Act 2(M)6 relatin8
to small companies.
Approved by order of the board of trustee5 0n......-. ...
. and signed on its behow by:
LJ Swindell- Trustee
INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OF
THEATR NA N'OG
Independent examlner's report to ihe trustees of Theatr Na N'og I'the Company'}
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and bas15 of report
As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible
for the preparation of the accounts in accordance with the requirements of the Companies Art 2CM)61'the 26 Act'l.
Having sat15fied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act
and are eliglble for independent examination, I report in respect of my examination of your Charity's accounts as
carried out under section 145 of the Charities Art 2011 I'the 2011 Art'l. In carrying out my examination I have
followed the Directions given by the Charity Commission under sertion 145151 Ibl of the 2011 Art.
Independent examinerfs Statement
Since the company's 8ross income exceeded £250.CbXY your examlner must be a member of a body listed in section
145 of the 2011 Art. I can confirm that l am qualified to undertake the examination because l am a member of the
Institute of Chartered Accountants in England and Wales. which Is one of the Ie bodies.
I have completed my examinatlon. I confimi that no matters have come to my attention in connertion with the
examination glvlng me cause to believe that in any material respect:_
accounting records were not kept in respect of the Company as required by 5ertion 386 of the 2006 Art,. or
the accounts do not accord with those records: or
the accounts do not comply with the accounting requirements of sertion 396 of the 2Th16 Art otherthan any
requirement that the accounts give a true and fair wew which is not 3 rnatter Cgnsidered as part of an
independent examination,. or
the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Prartice for accounting and reporting by charTties (applicable to charities preparing thelr
accourhts in accordance with the Financial Reporting Standard applitable In the UK and Republic of Ireland
IFRS 10211.
I have no concerns and have corne across no other matters in connection with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Stuart Harries FCA ACCA
Independent Examiner
Carr, jenkins & Hood
Oystermouth House
Charter Court, Phoenix Way
Swansea Enterprise Park
Swansea
SA7 9FS
Date=......
THEATR NA N'OG
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022
Unrestricted
Restricted
fund
fund
Notes
£
£
Income and endowments from
Donations and legacies
3
320,526
-
Charitable activities
Productions and touring
84,476
35,371
Investment income
4
10,427
-
Other income
6
1,000
2,500
Total
416,429
37,871
Expenditure on
Raising funds
7
48,371
-
Charitable activities
8
Productions and touring
412,079
37,871
Taxation
11
(50,783)
-
Total
409,667
37,871
NET INCOME/(EXPENDITURE)
6,762
-
Reconciliation of funds
Total funds brought forward
466,835
-
Total funds carried forward
473,597
- |
2022
Total
funds
£
320,526
119,847
10,427
3,500
454,300
48,371
449,950
(50,783)
447,538
6,762
466,835
473,597 |
2021
Total
funds
£
327,258
58,372
10,564
25,900
422,094
26,882
417,641
(22,356)
422,167
(73)
466,908
466,835 |
|
|
|
The notes form part of these financial statements
8
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
BALANCE SHEET 31 MARCH 2022
Unrestricted
Restricted
fund
fund
Notes
£
£
Fixed assets
Tangible assets
17
100,938
-
Current assets
Debtors
18
101,818
-
Cash at bank and in hand
347,098
-
448,916
-
Creditors
Amounts falling due within one year
19
(76,257)
-
Net current assets
372,659
-
Total assets less current liabilities
473,597
-
NET ASSETS
473,597
-
Funds
21
Unrestricted funds
Total funds |
2022
Total
funds
£
100,938
101,818
347,098
448,916
(76,257)
372,659
473,597
473,597
473,597
473,597 |
2021
Total
funds
£
104,875
26,683
360,630
387,313
(25,353)
361,960
466,835
466,835
466,835
466,835 |
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 March 2022.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
9
THEATR NA N'OG (REGISTERED NUMBER: 018565801
BALANCE SHEET- continued
31 MARCH 2022
These financial ststements have been prèpared in accordancè wlth the provislons applicable to charltable companies
5ubjert to the small companies re8ime.
The fin
Iz
nci
statements were approved by the Board of Trustees and authorlsed for Issue
2u2x......... and were slgned on its behalf by:
on
G J Cripps- TrLbStee
The notes form part of these financial statements
io
THEATR NA N'OG
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022
Notes
Cash flows from operating activities
Cash generated from operations
1
Finance costs paid
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of
the reporting period |
2022
£
(11,955)
(163)
(12,118)
(1,464)
50
(1,414)
(13,532)
360,630
347,098 |
2021
£
27,490
(326)
27,164
(152)
187
35
27,199
333,431
360,630 |
|
|
|
The notes form part of these financial statements
11
THEATR NA N'OG
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022
1. Reconciliation of net income/(expenditure) to net cash flow from operating activities
Net income/(expenditure) for the reporting period (as per the
Statement of financial activities)
Adjustments for:
Depreciation charges
Interest received
Finance costs
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash (used in)/provided by operations |
2022
£
6,762
5,401
(50)
163
(75,135)
50,904
(11,955) |
2021
£
(73)
5,971
(187)
326
30,803
(9,350) |
|
|
27,490 |
2. Analysis of changes in net funds
|
At 1.4.21 |
Cash flow |
At 31.3.22 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank and in hand |
360,630 |
(13,532) |
347,098 |
|
360,630 |
(13,532) |
347,098 |
Total |
360,630 |
(13,532) |
347,098 |
The notes form part of these financial statements
12
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
1. Statutory information
TheatrNaN'ogisaprivatecompany,limitedbyguaranteewithoutsharecapital,registeredinEngland and
Wales. The registered office address can be found in the report of the trustees.
2. Accounting policies
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The charity constitutes a public benefit entity as defined by FRS 102.
Going concern
The trusteesconsiderthat there are no materialuncertaintiesaboutthe charity'sabilityto continueas a going
concern.Thetrusteeshaveassessedwhethertherearesignificantdoubtsaboutthecharity'sability to
continueasagoingconcern.Inadifficulttradingenvironmentforcharities,TheatrNaN'oghasalways been
reliantonpublicfunding.Thetrusteeswillonlycommittoproductionsiftheyknowthatsuchfunding is
available. This policy is underpinned by available reserves.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
Donations and voluntary income are accounted for when receivable.
Grantsforimmediateexpenditureareaccountedforwhentheybecomereceivable.Grantsreceived for
specificpurposesaretreatedasrestrictedfunds.Grantsreceivedinadvancearedeferredandrecognised in
the accounts in future accounting periods.
Intereston funds held on depositis includedwhen receivableand the amountcan be measuredreliablyby the
charity; this is normally upon notification of the interest paid by the Bank.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
and the amount of the obligation can be measured reliably.
Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbe directlyattributedtoparticularheadingstheyhave been
allocated to activities on a basis consistent with the use of resources.
Allocation and apportionment of costs
Costsareallocatedbetweendirectcharitableandsupportexpenditureaccordingtothenatureofthe cost.
Whereitemsinvolvemorethanonecategorytheyareapportionedbetweenthecategoriesona basis
consistent with the use of resources.
continued...
13
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies - continued
Tangible fixed assets
Tangiblefixedassetsotherthanfreeholdlandarestatedat costless depreciation.Depreciationis provided at
rates calculatedto write off the cost less estimatedresidualvalue of each asset over its expectedusefullife, as
follows:
Freehold land is not depreciated |
|
Freehold buildings |
- 2% on cost |
Plant and machinery |
- 20% on cost |
Fixtures, fittings and equipment |
- 15% on cost |
Motor vehicles |
- 25% on cost |
Taxation
As a registeredcharity,TheatrNa N'ogis entitledto exemptionfrom taxationin respectof incomeand capital
gainreceivedwithsections478-489oftheCorporationTaxAct2010andsection256oftheTaxation of
Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives only.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Hire purchase and leasing commitments
Rentalspaidunderoperatingleases are chargedto the Statementof financialactivitieson a straightline basis
over the period of the lease.
Pension costs and other post-retirement benefits
Thecharityoperatesadefinedcontributionpensionscheme.Theassetsoftheschemeareheld separately
fromthoseofthecharityinanindependentlyadministeredfund.Contributionspayablefortheyear are
chargedin the Statementof FinancialActivityandrepresentthe contributionspayableby the companyto the
fund.
Debtors
Tradeandotherdebtorsarerecognisedatthesettlementamountdueafteranytradediscount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cashat bankandcashin handincludescashandshortterm highlyliquidinvestmentswitha shortmaturity of
threemonthsorlessfromthedateofacquisitionoropeningofthedepositorsimilaraccountandthat are
subject to an insignificant risk to changes in value.
Creditors and provisions
Creditorsandprovisionsare recognisedwhere the charityhas a presentobligationresultingfrom a past event
thatwillprobablyresultinthetransferoffundstoathirdpartyandtheamountduetosettlethe obligation
canbemeasuredorestimatedreliably.Creditorsandprovisionsarenormallyrecognisedattheir settlement
amount after allowing for any trade discounts due.
continued...
14
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies - continued
Financial instruments
The charityonlyhas financialassets and financialliabilitiesof a kindthat qualifyas basic financial instruments.
Basicfinancialinstrumentsareinitiallyrecognisedattransactionvalueandsubsequentlymeasuredat their
settlement value.
3. Donations and legacies
2022
£
Donations
957
Grants
319,569
320,526
Grants received, included in the above, are as follows:
2022
£
Arts Council of Wales
319,569
4.
Investment income
2022
£
Rental income
10,377
Interest receivable
50
10,427
5.
Income from charitable activities
2022
Productions
and
touring
£
Box office and performance income
83,562
Consultancy and other fees
854
Sundry sales
60
Grants
35,371
Sponsorship
-
Royalties received
-
119,847 |
2021
£
7,689
319,569
327,258
2021
£
319,569
2021
£
10,377
187
10,564
2021
Total
activities
£
4,712
100
8
53,000
500
52
58,372 |
|
|
Incomefromcharitableactivitieswas£119,847(2021;£58,372)ofwhich£37,871(2021;£53,000) was
attributable to restricted funds and £81,976 (2021; £5,372) was attributable to unrestricted funds.
continued...
15
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
5.
Income from charitable activities - continued
Grants received, included in the above, are as follows:
Arts Council of Wales
Oakdale Trust
Arts & Business Cymru
Colwinston Trust
Hodge Foundation
The British Council
Leche Trust
International Links (Global) Ltd
Urdd Gobaith Cymru
Gwendoline and Margaret Davies Charity
6.
Other income
Insurance claims
Welsh Government COVID Support
Arts & Business Cymru Award
Millennium Stadium Charitable Trust
7.
Raising funds
Raising donations and legacies
Staff costs
Publicity and advertising |
2022
£
5,000
2,000
3,750
10,000
-
6,500
-
2,457
664
5,000
35,371
2022
£
-
-
1,000
2,500
3,500
2022
£
35,283
13,088
48,371 |
2021
£
45,000
-
1,000
-
5,000
-
2,000
-
-
- |
|
|
53,000 |
|
|
2021
£
900
25,000
-
- |
|
|
25,900 |
|
|
2021
£
25,010
1,872 |
|
|
26,882 |
continued...
16
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
8. Charitable activities costs
Charitable activities costs |
|
|
|
|
Direct |
Support |
|
|
Costs (see |
costs (see |
|
|
note 9) |
note 10) |
Totals |
|
£ |
£ |
£ |
Productions and touring |
269,653 |
180,297 |
449,950 |
£37,871 (2021; £53,000)of the above costs were attributableto restrictedfunds, £412,079(2021; £364,641) of
the above costs were attributable to unrestricted funds.
9. Direct costs of charitable activities
Direct costs of charitable activities |
|
|
Staff costs
Production costs
Motor running expenses
Subsistence and touring expenses
App development and hosting |
2022
£
29,375
235,311
2,368
376
2,223
269,653 |
2021
£
49,579
248,111
2,532
33
2,364 |
|
|
302,619 |
10. Support costs
Production
Governance
Management
costs
£
£
Productions and touring
83,032
97,265
Support costs, included in the above, are as follows: |
Totals
£
180,297 |
|
|
Production management
Production management |
|
|
|
2022 |
2021 |
|
Productions |
|
|
and |
Total |
|
touring |
activities |
|
£ |
£ |
Wages |
52,810 |
50,135 |
Social security |
1,457 |
2,273 |
Pensions |
1,272 |
1,952 |
Other operating leases |
181 |
242 |
Water rates |
57 |
50 |
Insurance |
2,808 |
2,567 |
Light and heat |
901 |
393 |
Telephone |
750 |
721 |
Postage and stationery |
969 |
523 |
Repairs and renewals |
15,818 |
2,333 |
Cleaning |
1,931 |
887 |
Carried forward |
78,954 |
62,076 |
continued...
17
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
10. Support costs - continued
Production management - continued
|
2022 |
2021 |
|
Productions |
|
|
and |
Total |
|
touring |
activities |
|
£ |
£ |
Brought forward |
78,954 |
62,076 |
Affiliation fees |
2,078 |
1,792 |
Depreciation of tangible and heritage assets |
2,000 |
2,171 |
|
83,032 |
66,039 |
Governance costs |
|
|
|
2022 |
2021 |
|
Productions |
|
|
and |
Total |
|
touring |
activities |
|
£ |
£ |
Wages |
28,773 |
11,815 |
Social security |
1,810 |
770 |
Pensions |
1,364 |
591 |
Independent examiners remuneration |
4,990 |
4,750 |
Independent examiners remuneration for |
|
|
other work |
6,310 |
7,450 |
Other operating leases |
423 |
564 |
Water rates |
85 |
76 |
Insurance |
6,553 |
5,991 |
Light and heat |
1,351 |
588 |
Telephone |
1,749 |
1,683 |
Postage and stationery |
2,262 |
1,220 |
Sundry expenses |
3,389 |
1,951 |
Repairs and renewals |
23,726 |
3,499 |
Cleaning |
2,897 |
1,331 |
Staff training |
2,896 |
1,888 |
Legal and professional fees |
5,123 |
690 |
Depreciation of tangible fixed assets |
3,401 |
3,800 |
Bank charges |
161 |
326 |
Interest on late PAYE |
2 |
- |
|
97,265 |
48,983 |
continued...
18
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
11. Taxation
Taxation |
|
|
Theatre tax relief
Children's tv programming tax credit |
2022
£
(43,226)
(7,557)
(50,783) |
2021
£
(22,356)
- |
|
|
(22,356) |
TheatrNa N'og,as a registeredcharity,is entitledto exemptionfrom taxationin respectof incomeand capital
gainsreceivedwithinsections478-489oftheCorporationTaxAct2010andsection256oftheTaxation of
Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives only.
The charity does however qualify for Theatre Tax Relief in respect of certain expenditure it incurs on its
theatrical productions, resulting in the tax credits included in the accounts as above.
ThecharitywasalsoeligibletoclaimtheChildren'sTVProgrammingTaxReliefinrespectof certain
expenditureit incurredon programmesproducedin the year ended 31 March 2021. Provisionof this credit has
been made in the year ended 31 March 2022.
12. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
|
2022 |
2021 |
|
£ |
£ |
Examination of the financial statements |
4,990 |
4,750 |
Other services |
6,310 |
7,450 |
Depreciation - owned assets |
5,401 |
5,971 |
Other operating leases |
604 |
806 |
13. Trustees' remuneration and benefits
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2022norforthe year
ended 31 March 2021.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31March2022norfortheyear ended
31 March 2021.
continued...
19
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
14. Staff costs
The average monthly number of employees during the year was as follows:
Productions and touring
Marketing and publicity
Administration and management |
2022
1
-
2
3 |
2021
2
1
2 |
|
|
5 |
No employees received emoluments in excess of £60,000.
The total employee benefits of the key management personnel of the charity were £41,453 (2021; £40,702).
15. Comparatives for the statement of financial activities
Unrestricted
Restricted
fund
fund
£
£
Income and endowments from
Donations and legacies
327,258
-
Charitable activities
Productions and touring
5,372
53,000
Investment income
10,564
-
Other income
25,900
-
Total
369,094
53,000
Expenditure on
Raising funds
26,882
-
Charitable activities
Productions and touring
364,641
53,000
Taxation
(22,356)
-
Total
369,167
53,000
NET INCOME/(EXPENDITURE)
(73)
-
Reconciliation of funds
Total funds brought forward
466,908
-
Total funds carried forward
466,835
- |
Total
funds
£
327,258
58,372
10,564
25,900
422,094
26,882
417,641
(22,356)
422,167
(73)
466,908
466,835 |
|
|
continued...
20
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
16. Independent examiners remuneration
|
2022 |
2021 |
|
£ |
£ |
Examination of the financial statements |
4,990 |
4,750 |
Other services |
6,310 |
7,450 |
|
|
|
|
11,300 |
12,200 |
|
|
|
17. Tangible fixed assets
Tangible fixed assets |
|
|
|
|
Cost
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021 |
Freehold
Plant and
property
machinery
£
£
189,611
88,697
-
605
189,611
89,302
87,362
86,602
3,794
1,346
91,156
87,948
98,455
1,354
102,249
2,095 |
Fixtures
and
fittings
£
47,858
859
48,717
47,327
261
47,588
1,129
531 |
Motor
vehicles
£
26,735
-
26,735
26,735
-
26,735
-
- |
Totals
£
352,901
1,464 |
|
|
|
|
354,365 |
|
|
|
|
248,026
5,401 |
|
|
|
|
253,427 |
|
|
|
|
100,938 |
|
|
|
|
104,875 |
A legal charge held by the Arts Council of Wales in relation to the freehold property expires 5 November 2027.
18. Debtors: amounts falling due within one year
Trade debtors
Corporation tax recoverable
VAT
Prepayments |
2022
£
26,814
73,139
917
948
101,818 |
2021
£
1,838
22,356
1,418
1,071 |
|
|
26,683 |
continued...
21
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
19. Creditors: amounts falling due within one year
Creditors: amounts falling due within one year |
|
|
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
Deferred government grants |
2022
£
11,301
2,122
2,481
15,353
45,000
76,257 |
2021
£
5,333
2,885
214
11,921
5,000 |
|
|
25,353 |
20. Leasing agreements
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS |
2022
2021
£
£
720
720
Net
movement
At
At 1.4.21
in funds
31.3.22
£
£
£
466,835
6,762
473,597
466,835
6,762
473,597
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
416,429
(409,667)
6,762
37,871
(37,871)
-
454,300
(447,538)
6,762 |
|
|
21. Movement in funds
continued...
22
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
21. Movement in funds - continued
Comparatives for movement in funds
|
Net |
|
|
movement |
At |
At 1.4.20 |
in funds |
31.3.21 |
£ |
£ |
£ |
Unrestricted funds |
|
|
General fund
466,908 |
(73) |
466,835 |
TOTAL FUNDS
466,908 |
(73) |
466,835 |
Comparative net movement in funds, included in the above are as follows: |
|
|
Incoming |
Resources |
Movement |
resources |
expended |
in funds |
£ |
£ |
£ |
Unrestricted funds |
|
|
General fund
369,094 |
(369,167) |
(73) |
Restricted funds |
|
|
Restricted
53,000 |
(53,000) |
- |
TOTAL FUNDS
422,094 |
(422,167) |
(73) |
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
At 1.4.20
in funds
£
£
466,908
6,689
466,908
6,689 |
At
31.3.22
£
473,597 |
|
|
473,597 |
continued...
23
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
21. Movement in funds - continued
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
785,523
(778,834)
6,689
90,871
(90,871)
-
876,394
(869,705)
6,689 |
|
|
22. Employee benefit obligations
Thecharityoperatesadefinedcontributionpensionscheme.Theassetsoftheschemeareheld separately
fromthoseofthecharityinindependentlyadministeredfunds.Thepensioncostscharge represents
contributions payable by the charity to those funds and amounted to £4,771 (2021; £5,822).
23. Related party disclosures
EFGHEL Limited
A companywhollyowned by Eric Styles who is the husbandof Geinor Styles, companysecretaryand employee
of the charity.
During the year EFGHEL Limited provided the following services to the charity:
|
2022 |
2021 |
|
£ |
£ |
Reimbursement of iphone use |
600 |
600 |
Computer support |
525 |
225 |
Reimbursed computer supplies |
351 |
- |
|
|
|
|
1,476 |
825 |
|
|
|
The balance outstanding at the balance sheet date was £810 (2021; £nil).
continued...
24
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
24. Limited by guarantee
The charityis constitutedas a companylimitedby guaranteeanddoes not have a sharecapital.Each member
gives a guarantee to contribute a sum not exceeding £1, to the company should it be wound up.
25